What are the three types of endowments? How are they presented on the ﬁnancial statements of a public and a private college and university? Why are board-designated (or quasi) endowments always unrestricted?
Answer to relevant QuestionsHow are investments, investment income, and gains and losses on these investments accounted for? Is there a difference in treatment for public as opposed to private colleges and universities?Windom College, a not-for-proﬁt institution, engaged in the following transactions during its ﬁscal year ending June 30, 2014. Prepare appropriate journal entries, indicating the types of funds (by restrictiveness) in ...A private college receives the following pledges of support.1. As part of its annual fund drive, alumni and friends of the college pledge $8 million. The college estimates that about 15 percent of the pledges will prove ...Why is the statement of functional expenses required for voluntary health and welfare organizations?Select the best answer.1. A not-for-proﬁt hospital signs a contract with an insurance company in which the company agrees to pay it $6 million in capitation fees for the year July 1, 2014 through June 30, 2015. Between ...
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